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Thanks big. I see what you mean in regards to a quick VXX reversal. I hope you are right for I am sitting on a fairly large cash position and a pull back would give me an opportunity to get back in the game. The volatility index seems to be more sensitive than the general market so I may take your advice and dabble in VXX a bit but for now I feel more comfortable holding cash through the turbulence. I like your call date of Aug 14th as it is the birthday of my daughter and girlfriend, a buy signal if I ever saw one.
The Varney e-mail was surprising. Glad to see they are extending cash a bit further than expected. I'm not going to get my hopes up but the extra month or so of available cash may yield us the desperately needed SA results. The bio sector is ripe right now and positive data I think would reward us our investment and then some. This is the uptick I've been waiting for in order to exit but holding seems a better option right now with the possibility of a trial completion. By years end the story should be told so your capital gain offset would still be a possibility should the results be funky, so why not wait it out. Good luck, I'll be keeping an eye out for your posts and next move.
O.T. Bigworld,
My girlfriend's uncle by marriage, is a broker from Chicago. He's loaded, a bit strange, but has seemed to call things pretty well since I've known him. He tried to get me into gold in the upper 300's many moons ago but I didn't listen. I see him every summer now at my girlfriend's mom's summer family get together. I mentioned to him a bit of your strategy and thoughts on purchasing a large block of VXX. He had mixed feelings, concerned that options related trades would continue to hold the VIX down and increasing oil and government stimulus would continue to support the markets. He doesn't feel strongly that the markets will pull back near term but does believe that it is falsely supported. He thinks there are more interesting trades to come in late '09 when cost cutting measures have less of an effect on corporate books. He told me to short CAT, but I am not going to do so. He sees too many people short the overall market right now. Far too many expecting a pull back, so in his mind, that means it is not going to happen anytime soon. He is mostly cash and gold right now. He doesn't trust the market either way and is going short near Q3 earnings if the government doesn't offer their hand again fall '09. Just giving you another perspective.
I am cash with the exception of COR and still expecting a market wide pullback... as I was since dow 8000. I'm missing a big run here but think there are better days ahead to reenter. OSK and WYNN were in my sights but I won't dare consider them at these levels. That may be the problem, too many people thinking as we are. Either way, the market has to have a healthy retraction in order to continue this run which is when I will probably reenter. Good luck with VXX, I'm a watcher for now. F4T
Alertmeipp,
Unfortunately it's not me, I was waiting on an uptick after the conference call which never came. Still holding 356K. I'm going down with the ship. Looks like next stop .17. If delisting news hits, we may reach .10. Deterioration until M&A news is likely. By then the double may be .25. Time is the enemy with wavering confidence the consequence. A buyout needs to happen soon or a reverse split becomes more inevitable followed by another pipe and further deterioration of share price. No question about it, cor is finished. If they find a way to acquire funding it will be at a huge cost to the shareholder.
Looks like iggs quit buying and appears to have gone quiet for some strange reason. He and mouse, not to mention crease, are seemingly going to have the last laugh at all of our expenses.
As for now, I am building a cash position to reenter the market on a broad scale pullback. Buffet too seems to feel further market deterioration is coming with obvious economic indicators merging to the negative. I'm going to chance gold and a few etfs on the pullback with the hopes of a short term rally. Bigworld seems to be on point thus far so following his advice for now seems to be a decent plan. Good Luck on your cor holding, we gonna need it.
You can question management for several reasons. Recently Cor as a company had us believe they were dispersing their efforts in order to manage their many irons in the fire. It appears just the opposite. Convergence of one molecule targeting new ghost indications. A move necessary to save the company. It instead created a financial predicament that leaves the company in the same position it would have been in had they put their IP up for sale a year or more ago. Not to mention the better share price and lack of dilution that would have been awarded them had they gone that route. This clearly was a calculated risk. Management has taken one blinded solo shot on goal after another yet the promise of many irons in the fire surfaced for no reason. Why say that? A waste of words. In spite of the current economic climate, that statement would have you believe as an investor that Cor management does have a strategic plan and does have other options should their current situation not pan out. Management has made statements of relative untruths which may have been misleading to investors. Regardless of the ADHD debacle, management had me believing that something was indeed just over the horizon, that obviously was not the case. Why take the company down the path of obvious financial drain without guaranteed result in a timely and necessary manner. If they did not know how long an SA trial would take, they ought not have gone there. If they were unsure an RD deal could be inked, why bother with an uncertain BP interest. POC without players is as good as no POC when you are financially vulnerable. Yeah they say they had someone at the table but funds were pulled, whatever. They again are saying they have many suitors for M&A, buyout, etc., and we again will have to take their word. What will thwart their efforts this time, the Korean missile crisis? There is no proof and clearly no result. There should have been plenty of available historical industry data for them to analyze prior to making these critical decisions.
<<ADHD after the good study results--yes, that is a no-brainer. But what was the back-up plan? How much effort was extended to secure prtnshps for other indications? I believe virtually none. Cor has not been able to handle many irons (contrary to Stoll's infamous remarks), nor have they seemed to fire on more than one cylinder--one awful pipe at a time, one molecule at a time, and one indication at a time. While undertaking new studies or multiple indications costs more than they can obviously afford; getting the word out; making appointments with suitors; negotiating favorable deals; in other words: demonstrating skilled business savvy, is included in their salary. >>
In general that statement seems to hold true. Regardless of your position as a bio industry insider or unlucky bio tech message board voyeur, business practices and approaches should remain the same. Clearly bio technology has its own unique set of requirements and hurdles, nonetheless, a CEO needs to be more than just a clever dick when it comes to his or her product, be it molecules or fried chicken. A CEO needs to be well versed and possess an in depth knowledge of the rules, regulatory hurdles, and parameters for success in the arena of which he or she chooses to play. Extensive efforts in marketing, research and development, and sales all play a role in the progression towards success of a product or company. Cor management has obviously failed in some of these categories. As another poster recently stated, there are far worse off small cap bio companies trading at far better market caps with far less in IP value and prospect. Therefore, if that statement holds water, the keepers of the technology must bear the weight of the failures and take the blame for the current share price cast upon their loyal believers and investors. Every business on earth can present a bible of reasons for their company's successes or failures. Share price is a straight forward barometer of these successes or failures, period. And it appears now that the eye of the storm has taken its position over Cal-Irvine. If Cor was trading at $10 a share, I guarantee you top brass would deservedly take the credit. They therefore need to take the blame for our current position and historically low sp. In spite of all this, we as investors need to consider that the resulted mindful misery that comes with a poor investment is near that of a self inflicted gun shot wound. Unintended and stupid in hindsight yet solely your responsibility. I guess in my case, I was blinded by the writing on the wall, albeit in chinese. So bring on the board of interpreters who unfortunately allowed me to believe that I may have accidently wondered upon the bio tech holy grail, amapkines. Every student needs a teacher not the other way around and had this baby turned out I would have certainly offered many thanks. Lesson learned, next time I'll either learn chinese or call Ron Howard to expose the truth. F4T.
O.T. Big,
So you still are in favor of GDX and predicting a market wide pullback with a soon to be followed rally? Are you still liking UNG here, not seeing much action in natural gas? Any thoughts on UYM? I'm making a large deposit to my online account and am not sure if I should make my move back into individual stocks or etfs. I'd like to reenter some of my recent holdings on a pullback but think there would be less downside risk in GDX if your forecasted rally doesn't come thru. It seems logical as a dollar value hedge regardless of the overall market climate.
Gfp, I gave you OSK when you were looking at CBI at $6 a few months ago, did you grab some? Keep an eye on it. I got out of it recently but will get back in on a pullback, they secured another large billion dollar government contract and their prospects look good going forward, for the next couple of years at least. My local news aired the deal on Monday.... I should have got back in then but was preoccupied. It looks to have a strong outlook and could presumably retest the $30 range with the help of a market rally.
Sorry for the OT but Cor certainly doesn't give this board much incentive for discussion.
Alertmeipp,
I'm not a medical science guy and I am frankly sick of waiting this thing out. I am out of my element here and all of my rotten eggs are currently in the same basket. I do think that we may test the lows, however I will hold through the downturn and sell through upward momentum while retaining 20% of my current position.
The future may be full of promise but Cor has no money and to believe management 100% at this point, that a merger or acquisition is near... well we've been here before is all. And my going concern would be that more financing will be required to finish the SA trial, now that it has been delayed. Time and money will be needed to secure a deal if the data is good. If the data is bad, who knows which direction the current management group will take this company. Would they consider stringing this company along in order to satisfy their own greed and maintain a cushy income in a difficult job market? Possibly. This would mean, as GFP has already stated, selling off bits and pieces of their IP in order to gain some cash flow while depreciating the value of the company in the process. Or will they seek a reverse split in order to do more and more financing. If the latter is the case, todays price will seem quite high. Remember the delisting agenda is just around the corner. Cor either offers a believable game plan or it's off to pinky land.
Again, I do not understand the near term full potential, nor am I secure anymore with putting my money where other peoples mouths are. It's what got me in over my head here in the first place. Who do you believe this go around? Iggs has turned into the board optimist and our resident expert has become far less so. I know longer can interpret the optimistic or pessimistic views of individuals on this board, nor do I have the time. Not much has been predicted correctly here, so I am taking what little is left of my $500k and putting into less risky etf's for the near term. I'm targeting mid .30's as an exit point. I was greedy and paid dearly for it. I've been consumed by this investment and this board over the past 3 years, and where did that get me. I have two restaurants to run, which are doing great by the way, and better ways to spend my days. It is an entertaining board but my focus needs to change for I think the dream is over. Good luck to you, I hope for everyone's sake here that Cor finds a way to shock the world. Although, I'll probably have AD before that day comes.
Alertmeipp,
I haven't started yet. I am waiting on an uptick of sorts. Cor tends to fluctuate without reason, so I will wait and unload during the midst of a undeterminable move towards the upside. If by chance something is revealed, such a merger or sale of the company prior to this type of action, I will consider myself fortunate. I am forecasting a summer slide however with no real news expected near term. There will undoubtedly be some upward movement once, as Jerry puts it, the toilet paper roll has run out. That is probably when I will make my move out.
Neuro,
I have finally been persuaded... there is no way anyone without some sort of multiple personality disorder or bipolar disease can possibly have such a variance of opinion in such a short time, unless of course that person has an agenda. Iggs is obviously working for someone here. His/her ridiculously extreme behavior makes this now obvious to me. Coy... iggs certainly is not.
Iggs if you have such a substantial position, which one would assume to be several hundred thousand shares, and have added and are currently adding to that position, then why such weak volume. You obviously aren't scarfing up all available shares so quit being so telling by pushing people to keep selling. You have an agenda. Next time try to be less obvious, but I suppose with only one daily post, you have less of an opportunity to play your game.
enemem,
What a posting whirlwind. Usually weekend posts are hard to come by here. Anyway, I do plan on liquidating as many shares as possible over the next several weeks. I will undoubtedly keep some. My break even point is slightly less than a buck, so if I can move some of my shares on an uptick with hopes of finding a more moderately lucrative investment path, I will clearly be better served than sitting on my current cor position waiting on the company's fate. I was waiting on the SA trial update with hopes of good news and a near term pop, but now that the trial is delayed, I find it more advantageous to put my money elsewhere for the near term. I think there will be a retraction of share price here.
I like bigworld's strategy. I will probably put a small amount in a nat gas etf and dabble in a few mineral plays as well. I will also reenter some of my earlier '09 positions on a broad market pull back. I've just had it here and am frankly sick of waiting. Whether cor pulls out a good deal of some kind or not, the 5 to 10 bagger vision, imo, is gone. So for now, I will feel better with a more diverse portfolio. It was worth a shot but I believe the dream is over. I never get lucky on these all in plays, I should have stayed with the strategy I encompassed during the '99 tech rally. I was in and out quickly with stop losses on widespread dot com and tech stocks. If I had done something similar to that with biotech, I may have had better luck, possibly catching one of the recent rockets without sustaining such substantial losses. Again, good luck to all of you, I shall check in periodically with the hopes of catching one of gfp's whimsical analogies. F4T.
Gfp,
You are a creative and intelligent man. Nice analogy, not sure how you have trouble investing with such knowledge and imagination.
I see it as this, rather than a toast to Cor, raising our glasses to Cor in a private suite in Vegas, Cor has instead delivered us a toast but it is of the burnt bread variety.
The nay sayers appear to be right, management failed to delivery again on a timely fashion at the most critical of moments, focusing in on a direction they thought was to save the company but has instead delivered historical SP lows to its shareholders. So to mf4, haysaw, ombow, patco, iggs(not understanding the change of heart), naked, blatch, and the rest, it took some time but it appears you guys ultimately predicted Cor's fate better than the rest.
Cor's team has tortured far to many a primate throughout this roller coaster ride, including myself, and if they do another pipe to extend their paychecks and prolong the inevitable, they are not only monkey killers they are criminal. Their concern a this point needs to be 100% with the shareholders who have stayed long with this company through out all the bad luck and bullshit excuses. I mean they made a great living through out the years, why did they elect not to draw a wage at these critical times to extend cash, get through the SA trials, and then deliver more options to themselves to make up for the salaries on the sale of the company if SA data is bad. If SA data is good, without the paychecks draining cash, they should have ample time to close a deal and offer themselves bonuses once it is inked. Yeah I know in a dream world... no one works for free. It's strange to me that the scientists stated that the SA trials should be far easier, more direct and more predictable on a timeline basis than RD, yet we hear the same old crap. I thought this was going to be a quick and dirty trial with or without obvious poc, laying the groundwork for the near future of this company. Well, I'll play the fool on this one. No more pipes, no more carrots, no more free lunch for management. Four words, SELL THE COMPANY NOW, if there is value here it will take obvious others to bring it market. Good luck finding new jobs guys, then again they were all near retirement anyway. I guess I feel a bit sorry for the new hired talent, they got pulled into the fire with the rest of us. My question of the day, How do you turn $500,000 into $90,000... take a position in Cortex Pharmaceuticals, believe what management tells you and chase it all the way down to bupkis like a brain dead monkey. A story for my next class reunion. Well have a good one fellas, this board is certainly full of intelligence just not my cup of tea. Good luck and thanks for the memories. Closure. F4T out.
It looks like all Varney has got to do is play ball and Cor should jump. Send Guido over to Cortex today to give Mark his statements for the SHM. I think I have some friends in Vegas that may be willing to take the 2 over to Irvine and do the old boy a favor. No different than a lobbyist swaying a politician. Just say the word fellas. His comments don't have to be overly specific just spun in an overly positive way. Seems to be working industry wide. JK, I like playing Pesci at times.
MF4,
Here's a chance to dump some and pick more back up at .20 after the SHM. I dumped 50k at .30. Shares I bought in the lower .20's. What the heck. It's something. I don't think this is sustainable with the comments recently made by Varney with regards to the slippage. Unless of course he again presents a new wildcard to new and unsuspecting investors. We shall see.
Another Bio miracle. From .19 to $3.00. I guess it keeps the Cor hope alive. They appeared to be more cash friendly than good ole Cor though with 24 million in the bank at the start of the year, but who knows. Again, it appears that the street is all in on these bios with positive news right now in hopes of catching the next vnda as you stated. Hey Mark, the timing is right so put on your best poker face and pull off the bluff of a lifetime at the SHM so I can get the heck outta here. A little white lie like, enrollment has progressed and we have unblinded the trial due to great preliminary data of the SA study or something to that affect would do. Or maybe we are in the final stages of partnering ADHD in europe, nobody would be able to call that bluff. Who would be the wiser, we've heard it all before. Just day dreaming. Now off to my favorite golf course. FOUR.
Caught a 10 day doubler in CTIC, only had 10,000 shares, but hey better than a sharp stick in the eye. Now if Cor could follow suit with my 400,000 shares I could feed the baby! Varney, just give us anything remotely positive at the SHM, the market seems to be overly sensative to favorable news at any level in bio-tech right now.
>Cortex looks like one of the few non-participants in the market action. <
This I believe is where most of my frustration falls. Virtually everything, bio-tech included, has ramped steadily this year with the exception of good ole COR. Even after recent POC and a new indication in trial, the market sees no reason to build value into this stock. Cor again sits out on another rally. Will its day ever come. Looks like that answer to that is no. I am truly surprised anyone believes anything remotely positive will come from this company. Selling the IP is the only option regardless of how anyone feels towards management. The dream has ended and waiting for rabbit to appear has allowed me to miss the investment opportunity of a lifetime while the bulk of my savings sits dead in Cor stock waiting on their ah-ha moment. My stupidity moment rather. If the rest of the market played dead while we sat idly by waiting on Cor's demise then I would feel much better. Oh well, lesson learned.
O.T.
Big,
Thanks again for your market insight. I should probably hire you to handle my bulk trades for me. I'm still a bit leery of the summer bull market but I do like your take on hard assets and natural resources. I was in gold for a brief period early last year but got out too soon. I need to start playing more etf's rather than individual securities. I fall in love with a story and get stuck, hence cor. My hesitation to reenter that market at this point probably makes you right. I am surprised with your knowledge, that you have been suckered into the Cor story. This little company has been, by far, my largest holding and biggest loss since I began trading stock. Do you see a Cor recovery by year's end or are you treating it as a gain write off. I figure one more shot at averaging down may get me to even. Heck you can get 200,000 shares for a measly 40k. That should get me to about a .50 cost average. If by chance they pull a rabbit out their hat this could turn into a good year for me but I am certainly not holding my breath. I have rendered my time and efforts back to making money the old fashion way... by working my dank off. Good luck to you!
Big,
O.T. Where do you find your money right now and months ahead and why do you feel the bullish trend will continue through summer? I get the vix indicator but think it can get well above 40. Why the 40 target? I was thinking shorting sooner than later. I've picked up some chump change a few months back but missed out on larger returns dumping most of my positions at dow 8000. I played the casinos a bit mostly wynn, osk, cbi, nyx, ffiv, clf, ice. I've had a few losers and flatliners as well. I'm a busy guy and don't get to in depth. I just picked from my watch basket. Just curious what you see as the best sector and where you're making your move. Sorry for the solicitation but you seem on top of things. Thanks in advance.
"I am not sure why all of the sudden doomsday has entered into everyone's mind.
Everyone? Hello? Are you reading the wrong message board. :)"
I have everyone on ignore except marketfest4 and patco.
But seriously, the sentiment seems substantially more negative over the past 2 days,. With a 30-40% haircut I can certainly understand why. I guess short term .17 was somewhat expected without anything new from the fort but again nothing has changed over the past 2 days other than a profit taker dumping and weak hands joining due to the delisting pr. I'm all in like a blind poker player and will readjust my position to average down one more time at .17. Then fenito for meo. That's my spanish, meaning then I'm frickin done with this company to zero or .50. I'd be in the general market but I see a downturn a comin.
I am not sure why all of the sudden doomsday has entered into everyone's mind. Nothing has changed other than the share price, right? It was pretty obvious that the floor was set to .17 when the finance deal was executed. I was just surprised as hell that it held for so long and a lucky few were able to dump on an upswing. Who's to say SA has to be the end all. Who's to say cor won't do a 1 for 10 or 1 for 20, finance again and again to keep this old heap rolling on so they can continue to collect their paychecks until retirement. The investor seems to be the only loser. Management will never be aligned with the shareholders. They get paid every day regardless of result. It seems most of them other than Varney have one foot in the grave and have padded their bank accounts with cor funded dough. Hell, it's easy to keep a job that has little expectation of you or requirement of delivery. My 2 cents. The ship is going down but I'm sure there is another life raft just within reach for the fab 5.
Fair enough. The skepticism just seems a bit one sided at times. I will go back to the sidelines. I just wish Jerry would be a bit more specific as to the positive content of his posts in reflection to conversations with the CEO.
I wouldn't expect every passing inquiry to be remembered by Varney, but if one asks him as to the knowledge of a Jerry, I wouldn't expect a flat out denial with a paid pumper qualifier but rather a genralized can't seem to remember him type of response. Same holds true for the negative slated posts by iggs. It would be nice if cited examples accompanied the trash talking or specific construction criticisms would be offered for improvement of our current situation. As an industry outsider I have to sift through a lot a shat to get to that pearl of info. And with 2 restaurants to run and a horny 26 year fiancee to please time is of the essence. :O)
Gfp, welcome back to the jungle, there's sure to be an abudance of fun and games to come. I just wish I had an alarm to tell me when something interesting is about to happen. Checking in on this old pig everyday is like having a bad case of premature ejaculation. It's exciting getting there but seems to leave you disappointed once you do. Good luck, let this be the time you hit gold...for my sake at least.
Aiming,
I don't see the accusations as derogatory if there is truth within the statement. Personally I don't think iggs is a paid basher, just overly redundant. I am however curious about the Jerry comment. He claims to personally know management and if someone here has evidence to the contrary I want to hear it so I can determine where to place merit. I often wondered why someone who claims to have vague insider connections with positive influence doesn't themselves create volume through purchases of their own or of friends and family. The volume was at a trickle when Jerry claimed to have positive conversations with Varney yet noone was buying. Let Jerry defend the accusation but it reeks of burnt pumper now that alertmeipp has exposed him. Let the two of them prove their cases.
Asu,
I luckily made most of my cor losses back on a business property sale a few months ago. But didn't you tell me about a month ago when exited the market and began averaging down on cor that I was crazy? So were you messing with me then or are you playing with the board now? Just trying to make rational sense of the share swapping.
ASU,
You really dumped 500k shares today? Wow you have more resolve than I to walk away at this point. With you and others getting out however, why wouldn't the sp be heading the other direction. It makes no sense. Seems like a validated pr soon to follow this type of volume increase and with many dumping as you state and a share price increase, one can only assume it is positive. I'm certainly not getting my hopes up. Either way good for you for breaking the chains. I'm still hanging on for a buck. I got out of my other holdings at dow 8000 and hoping to get back in on a summer or fall pullback. It has to happen. Good luck in the future, looks to be a better year than the last.
It's hard to make sense of this. This kind of volume percentage increase without a huge price swing. Seems like someone wants in badly and is able to keep a lid on the sp. Moving the financed shares would have tanked the sp impo. Somethings amiss.
Cor...volume without flux? Looks like somebody playing with themselves.
CTIC seems to be the real mccoy. I think I'm going pick some up around a $1 if I can get it, right now it's a runaway train. Looks like a near term binary with big upside if the named-patient program has any success in Europe. FDA submission with possible approval by year end. It's clearly better than Cor's current situation...I wish I could swap my shares. Beggin for a 10 bagger.
Jerry,
It appears DSCO went into conservation mode rather quickly after receiving final word from the FDA. I called for Cor to do the same about 9 months ago. I know they had thoughts of an RD deal but should have been more proactive knowing the state of the credit market. Who knows, if they had, we may have avoided the carry over financing. Business 101 clearly was not a prerequisite to the hiring of our current illustrious management team. F4T.
Iggs,
I don't think you are a basher but rather just as sick of this stock as I am. The bio sector is moving favorable, as is virtually everything else, yet cor again sits idly by. The only thing I can say is that the repetative banter you offer has proven futile. I agree with your premise of putting your money where your mouth is. Cheerleading the science obviously hasn't worked and the supporters here are either all broke or have given up hope. One who truly believes in the science would certainly have to be a buyer at these prices considering any potential for success with regards to SA or ADHD shortterm. I think the lack of any management communication has snuffed even the loyal believers and they will continue to sit on their wallets until all possibilities of a pipe have been exonerated. Hell at this point I would be willing to hear of Varney's bowel movement cycle just to know they are alive. The silence must end soon and then you may evaluate all capabilities. I just hope it's not yet another carrot at the unforeseeable end of the ever legthening stick. F4T.
It seems all biotechs(dndn, sppi, dsco...) on my radar are ramping except good old cor. If they don't put something out by end of April, I'm going to be on the iggs bandwagon, phantom management at its best.
ASU,
I know I'm a complete gambling dumbass but I feel cor will get some type of rational bid for their IP before years end. Throwing good money after bad, the cardinal sin. I recently got out of a retail property to the tune of a nice gain and invested near bottom in a few stocks on my watch list, the rest I'm holding in cash for now for I think the market is due for another strong pullback after Q2 and Q3 numbers and forecasts. I don't think Cor can go much lower than the .30's at this point so I figured the $10k in to average down was a rational play. If they get a dollar buyout I will be even and feel much better about myself. The restaurants of recent late have been very busy. Maybe a sign of people spending cash closer to home or shortterm spending of tax returns, not sure, but whatever the reasoning I am doing very well. I don't buy the economic turnaround story yet but think the public's perception is changing even though my area continues to layoff folks in large lots. Green Bay currently at 11+% unemployment. Anyway as I said I am doing very well and I hope you are too! I made a few bucks on powder blue last night as well. It's been a pretty good year all aroung with exception of the big "C". Cheers to a good '09. F4T.
Sorry to break it to you guys but I just added more to average down a bit again, nearing the break even buck point. I got out of a few smaller holdings thinking the market is now set up for a pullback and wanted to give cor some luvin. I only picked up 30k this week so far so there certainly were more buyers than myself.
Market,
If you believe that, then you have to believe that crease and iggs have infiltrated the scam and are desperately trying, in a rather unintelligible manner, to protect us and ward off future investors. Could be? I don't know, but I doubt that the CEO of Cor would choose to pr layoffs if his primary goal was to lure cash from more would be sucker investors. The layoffs represent to me a desperation move, but by doing so also creates for me a sense of anticipation. It looks like they may have found a near term reason to aggressively extend the life of their remaining cash without dilution. Logically, again to me, it's the hope of good SA data. Rd poc apparently was not an appealing enough, or would be lucrative enough, indication on its own for potential partners to further study. Either too difficult to trial or too timely, who knows? This last ditch effort is the logical choice to avoid needless and further dilution. It will afford Cor the time they need if they indeed have a cash cow on the horizon, again without further dilution. In my opinion, this is one of the first things management has done in recent past to assure me that they may truly have my interests as a shareholder in mind. They could have just as easily given away the farm through some sort of ridiculously configured pipe that would have once again padded management's pockets with endless options. They remain under water like the rest of us. Am I happy where we currently sit, no, but this to me signals aggressive action which hopefully will result in higher shareholder value.
If I'm wrong, we pack the louisville slugger and head to soco. Anyone for a kneecap homer? My motto is clear, it's easier to forgive when the source of your pain is crying louder than you are. :o) Bottoms up!
It's the absolute right thing to do. They either couldn't get the deal done in time or aquire funding at a decent number, so it looks like expenditure control until SA data is revealed. A good move in my mind, much better than heavy dilution for a short term float. You can always restaff. If the higher ups were walking for fear of worthless checks I'd be more concerned. If Varney et al are willing to hold or reduce their salaries for the short term and remain with the company, it shows a sign of good faith and remaining belief in the IP, impo. They should have began cost control a bit ealier in my mind, but probably didn't expect the difficulty partnering. If SA data is trash however, this story is probably all but over. More wait and see.
I hope noone responds to this but the more I read posts on this board the more I see cor, i-hub as a conspiracy. All of the sudden iggs becomes a rational touter,
"Glad to see your enthusiasm. I hope that you are right Jerry. It would be nice to see them pull something positive off here...but I doubt it. I think they must be trying to raise capital and the stock price is reflecting it. I suspect we are going to get crushed, assuming that they can even raise money. Management clearly doesn't give a crap about the shareholders and has proven it countless times IMHO."
Believe it or not iggs, to me, that message seems a bit played. The last 50 messages on this board seem a bit scripted. I'm beginning to wonder if my 400k was taken by a group of smart talkin drug creators. Asu and market, I think we need to get together for a drink and a smoke and determine who's door we should go knockin on first. I'll pick up the suites at the Wynn and bring the muscle. Oceans twelve my ass, I've got deep seeded chi-town cred...upside down crosses and shat. I know some peeps that know how to get shat done.
Mind you, I've closed one of my restaurants tonight with 10 shots of C.C, 2 rob roys, 7 stoli sodas, amd a patron shooter. Interpretting this board tonight is making feel a bit iggs-ish and about 20 more cents from now I'm gonna feel about nakedmouse-ish. Shat, I'll drop a resume at R&R or befriend crease if it brings some geniuine interest back to this pig. Hey freto, I'm sorry for the bashing, pump us one more time so I can get the hell outta here and back to a layman's way of makin a living. Double stoli up, peace.
Gfp,
Regarding a reverse split, the percentages for the financing are understandably the same regardless of shareprice but factor in the thought of fetching more money now or down the road without increasing the shelved shares, attracting new investors not so eager to purchase a penny stock with a large allotment of outstanding shares...perception of value, extending the floor of zero while reducing risks of delisting or going to the pinks. I think there are other benefits to offering a financing of less shares at a higher share price rather than a large share offering at pennies. If positive news follows the financing, rd deal or sa data, the precipitous drift after split should be halted or at least recovered. Maybe I'm just looking at it wrong but it seems more probable to me to do the split then the financing.
Jerry,
Just to be clear, you see this as a ridiculous bottom with a clear indication to buy. If the upside was so large and the risks so futile, why then would you not see some buyers from the well informed...people that know the Dr.'s, that know the molecules, that understand the case studies, etc. I can understand the street giving up on Cor, but with all the money sitting on the sidelines and many individuals fairly well off, such as Dr's of the neuro trade, with available cash aware of Cor's potential, again why are we not seeing more buyers of the stock at these levels? If you belive in your scenario, as I am sure you do, then you and your family and friends, and your family's families and friends, and their family's families and friends, should be buying shares right now, not to mention the families and friends of the lab rats and scientists that are well aware of the abilities and potential of ampakines. Something just smells bad here. Just give us the buyout, put the molecules in more capable hands, and let the endlessly suffering investors recoupe some of their overly persistant and patient dollars they so eagerly put into the promise of ampakines. The story feels over. $5-$6 upside seems a fantasy. Dilution at these levels a travesty.
I recall many years ago when playing speculative tech stocks that the shelved shares remain in tact, so the reverse split benefit to financing seems like the obvious solution should the RD deal fail to impress.
If one is locked into cor for the long haul it would only seem prudent to buy in after a financing is announced post split. There should be no way a pipe would be offered at these levels. A 10 for 1 seems most likely, IMPO, should Cor not find a way to piggy back some positive pr.
Scstocks, thanks for your response and mention of your game plan. Good luck to you as well. Getting ready for a bear market rally? I recently moved 1 of my business properties to the tune of a nice profit and am sitting on a decent chunk of change. Not really sure where to go with it though. I was considering either to dump it into SPY for the short term or to just leave it on the sidelines. Any thoughts?
SCSTOCKS,
I was thinking the exact same thing as I read Gfp's post. I recall predicting a reverse split about a year or so ago prior to the RD gift, but here we are again. I know you always stated that Cor was sure to rebound as surely as they have done in the past. But even you, I am sure, did not see the tightening credit situation coming, at least at that time. I also stated about a year ago something along the lines of,"Why would the vultures pay a premium for one piece of meat when the whole cow will soon be available for free?". My rebuttals consisted of competition reasoning. Well it appears the competition cares very little who gets what compounds and for what indications. Selling the company seems the most logical at this point otherwise a reverse split to do a more favorable financing seems necessary, again sticking it to the shareholder. I don't see cor going out of business and I am sure the shelved shares remain at full alotment regardless of the split. There seems to be no real upside potential at this point. It's a shame the fine Dr's can't find a way to inject money into a company that they claim carries a potential $10 stock price. But I guess as long as their checks clear the bank, they remain eager little beavers.
Gfp,
I've been busy trying to fine tune the operations of my businesses latley in order to maintain positive cash flow so I haven't been following individual stocks or the market much but Oshkosh Truck, local to me, has been in the news a lot lately securing several defense/gov't contracts to the tune of a billion plus. I know they have stream lined a bit through layoffs and the sp has been tattered due to another crook of a ceo who seemed to have some interest in cooking the books as of late. The good old US gov't seems to have faith in their resolve and clearly should be able to cover their A/P. Just a thought.
Let's hope the Cor boys are a leaving their payroll checks uncashed and eating peanut butter n jelly until the deal is done. Any chance they could secure some type of an SA deal near the completion of trial, or is it likely that an SA deal will take equally as long as the current RD deal, given positive results of course...I'm assuming not, for further SA testing and proof should be far less complex. If they could piggy back a couple of positive PR's, RD deal then positive SA data, the share price certainly should get back to $2ish should they be able to ward off a financing with a speedy SA deal. The lingering thought of dilution, should an RD deal be weak, I'm sure will remove any momentum from the stock, capping the upside if not even further detariorating it for at least the rest of '09. Looks like more wait and see to me.
O.T. to ombowstring,
If your target audience is the 30 or so people reading this board, your marketing ploy has already failed. Not only are you unfamiliar with our religious preferences, but most of us here are broke due to our cor investment. In cyberspace you need to target and attempt to capture a mass and curious audience, whether you are after tree huggers, a Jerry Garcia look alike contest, tie-dyed t-shirt shoppers, or keep-the-faith messengers, your audience is available...you need to concentrate on marketing. I'm certain there are a million religious websites that exist with religious connotations, including a religious facebook of sorts where people get to display there art, photos, music appreciations, offering messages of faith, armagedon, jesus will return etc, etc,. That would be a good place to test market. If you want to make money at this, you have to determine your angle and aggresively market your site through search engine queing. When someone searches Jerry Garcia look alikes or tie-dyed t-shirts, you want your website to que in the top 10 of that list, if that is your angle. That requires an investment, no different than advertising in you local newspaper. Remember it takes money to make money, word of mouth traffic on the internet only seems to occur if you've gotten lucky enough to have been caught on video singing a naked rendition in your backyard of Celine Dion's "My Heart Will Go On", when by chance a squirrel runs up your leg and bites you in the nuts, thus allowing you to hit that high note you're attempting, this seemingly creating an uncanny resemblance of your voice to Ms Dion herself. Now that will get you traffic and a million plus hits. Once you create readership you can then sell your site space to advertisers, they are going to want to know your traffic and demographics of the visitors to your site, so getting personal information using surveys or sign ins and such is helpful there. If my advice doesn't help, I am sure there are thousands of free marketing tools available on the interent that will help you get started. It's either that or you need to sell something that you can mass produce and market, otherwise my friend it would appear your website is no more than just a hobby and you will probably never see much of a profit. I wish you luck, your efforts here seem a bit desperate and misdirected is all.
It's a shame that RD poc, which very recently seemed to be Cor's golden goose, is now being offered as the sacraficial lamb.
SA is now the new slam dunk indication, right? Management, offering the most recent PR, clearly wants us to believe this and needs us to get on board, hoping that we may be more willing to accept this soon to come and seemingly obvious dilution.
Cor: Trust us. Based on our recent findings, the necessary sp depreciation will be short lived, and you as a loyal cor investor, will someday soon be rewarded ten fold for your patience. Yeah right.
Meanwhile management, and another soon to be named loan shark, will be piling on new options at bargain basement prices, once again misaligning themselves from its longly teased and tortured investors. I think I've heard this before. It'not all bad though, this new promise will bring in another slew of unsuspecting investors and will guarantee the salaries of Cor's hard working scientists for at least another year. Yay.
The play: Wait for the pipe, buy as many .25 cent shares as you can afford without getting divorced, be patient while you wait for the delayed slam dunk SA data, then sell, sell, sell after the share price has previously drifted to new lows due to silent management and consistently missed timelines. Sadly for longs, even after the exceptional SA data has been released, the economy suffers another blow, credit supplies tighten even further, and the share price of cor takes another hit due to its uncertain future. Big pharma is still cash rich but is unwilling to take a position in cor due to an unpredictible economic climate and uncertain regulatory environment under the new administration. Cor is soon to be broke. Seems like dejavu all over again.
Could be worse though, I'm at the Wynn in Vegy and will remain until Tuesday, so I could really care less what happens with cor over the next 6 days, just hit me baby and get me another goose on the rocks and please don't forget to place my 100k on Pitt-7, definately seems like a better play than Cor these days. Peace.